ACCT 221 Q3

Feb 3rd, 2012
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1. Because of automation, which component of product cost is declining?a. Direct laborb. Direct materialsc. Manufacturing overheadd. Advertising2. The management function that requires managers to look ahead and establish objectives isa. controlling.b. planning.c. directing.d. constraining.3. A manufacturing process requires small amounts of glue. The glue used in the production process is classified as a(n)a. period cost.b. indirect materialc. direct material.d. miscellaneous expense4. All of the following would be entries in assigning accumulated costs to theWork In ProcessInventory except:a. the purchase of raw materials.b. raw materials are used.c. overhead is applied.d. factory labor is used.5. Which one of the following is a source document that impacts the job cost sheet?a. Raw materials receiving slips.b. Materials purchase orders.c Labor time ticketsd. Finished goods shipping documents.6. Process costing is not used whena. similar goods are being produced.b. jobs have distinguishing characteristicsc. large volumes are produced.d. a series of connected manufacturing processes is necessary.7. When determining costs of jobs, how does a companyaccountfor indirect materials?a. It is added to work in process as used.b. It is transferred out of raw materials into manufacturing overhead when usedc. It remains part of

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